Cost of Raising a Child in 2017: 7-Month Old

How Much Does it Cost to Have a Baby?

My wife and I are first time parents and we are now 7-months into the “parenting” process. I made it a goal to track all of our childcare expenses so I could truly report on the cost of raising a child. I invite all of my personal finance readers to follow along our journey as I diligently track all expenses involved in truly raising a child these days in middle class America.

Prior to us having a child I did some research and the consensus was that it costs roughly $14,000 per year to raise a child, which equates to roughly $240,000 (without college). Don’t get me started on how much college will cost for my child

So the consensus was from my research that it costs $14,000/annually to raise a child in 2017. Well, we are halfway through year one and we have spent just over $3,000 on our baby girl thus far. It is very early and she is still very young, but we are on pace to spend less than half of that $14k per year average. However, its obvious that what we spend in year one will (and should be) far less than what we’ll probably spend in, say, year 8 and/or 12 and beyond when expenses really rise to raise a child. But I like the pace we are on and currently setting.

How Much Does It Cost to Raise a Child?

We are 7-months in and thus far we have spent $3,743 on my daughter in total. We have lucked out and received a number of hand-me-down clothes and toys, as well as a ton of gifts and gift cards from our baby shower that are still holding us over. We are nearing the end of our baby shower gift cards, but I estimate that we have about $200 left to various stores.

Last month our biggest expense for our daughter was her new swim lessons. This month we didn’t have any expenses like that. We just had the usual, nanny care and 529, as well as some actual baby food and a couple outfits.

We bought baby food because my daughter is now transitioning to actual food, along with her formula. We are virtually only feeding my daughter formula now, as my wife is now longer producing breast milk. So our baby food expenses may begin to increase a bit. We also bought two new fall weather outfits for her now that the weather is beginning to change in our state.

Child Care/Nanny

We use a part-time nanny to watch our daughter two days a week. We consider ourselves very lucky though, as we have a nanny who comes to our house twice a week, a nanny our daughter loves, who really doesn’t costs us that much.

My wife is off two days during the week and then a family member watches her another day, so we only need to “pay” for two days of child care. Thus far we have spent a grand total of $2,400 on childcare.

Cost to Raise a Child in 2017: 7-Month Old

  • 1st month = $414
  • 2nd month = $105
  • 3rd month = $545
  • 4th month = $643
  • 5th month = $520
  • 6th month = $866
  • 7th month = $650
  • Since inception (March, 2017) = $3,743



Item Price
529 contribution $50
Child care $560
Baby food $20
Clothes $20
Total $650

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